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Strategies & Market Trends : Guidance and Visibility

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Nov 24 3:59 PM EST

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To: LTK007 who wrote (66860)	8/12/2002 11:53:58 PM
From: ThirdEye	Read Replies (1) of 208838

Just talked to a loan officer in my area today. They are getting 200 refi applications per day now. If the Fed cuts rates again while employers continue to cut jobs, the refi wave will get even bigger. But people are not doing it just to lower their payments, they are also doing it to buy cars at 0% interest. Others who have lost jobs can't make ends meet on no salary or lower salaries of the new jobs, have to pull equity out. Remember, though, there are federal rules that direct lenders to force payment of consumer debt in some cases to preserve credit ratings and thus the legality of the loan. Nevertheless, consumer debt continues to rise toward all time levels.

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